Johnson: Time could be too short to avoid cliff

8:10 PM,
Dec. 20, 2012

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U.S. Sen. Ron Johnson doesn't expect Congress or the White House will do much in the remaining days before a host of spending cuts and tax increases automatically take effect.

The approaching "fiscal cliff" encompasses the expiration of Bush Administration tax cuts, $1 trillion in automatic reductions on federal spending over 10 years and the expiration of emergency unemployment benefits and other payroll tax cuts set to take effect in January 2013.

While the White House and Congressional leaders continue to search for a resolution to avoid the fiscal cliff, Johnson, R-Wis., doesn't ...